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Member, Beacon International Group, Ltd.
ING U.S. Inc. has added hospital indemnity insurance coverage to its existing Compass suite of voluntary group health benefit plans.
The New York-based company’s hospital confinement indemnity insurance provides plan members with fixed dollar coverage for costs associated with hospital admissions, including co-payments, coinsurance and deductibles, meals, visitor parking, lost work time, mortgage and utility payments, and other attenuated costs, according to a statement released Tuesday.
The plan includes optional coverage for costs related to admissions in critical care and rehabilitation facilities.
“With the addition of hospital indemnity coverage, we've expanded our Compass product suite to help employers offer affordable and flexible insurance benefits to employees with minimal administrative hassle while providing a well-rounded and affordable benefits package to their employees,” Heather Lavallee, president of employee benefits distribution, said in the statement.
ING launched its Compass product suite in 2012, initially offering accident and critical illness coverage.
“This development underscores the commitment ING U.S. has to growing its voluntary insurance business, and for delivering innovative, flexible options we know our distribution partners and clients need,” Ms. Lavallee said in the statement.
Additional options available include wellness incentives for annual health screenings, as well as bundling options with other Compass coverage products.